Marjorie Taylor Greene links $920M oil bets to alleged insider trading around Iran deal
Former Congresswoman Marjorie Taylor Greene leveled a series of accusations against the Trump administration, characterizing its "war-and-peace" cycle with Iran as a manufactured ploy to facilitate insider trading for a privileged elite.
BREAKING: Nearly $920 million in crude oil shorts were placed at 3:40 AM ET, about 70 minutes before Axios reported the U.S. and Iran were nearing a “14-point” deal to end the war.
— unusual_whales (@unusual_whales) May 6, 2026
Oil then plunged more than 12%, with the position gaining an estimated $125 million.
Unusual.
Greene was referring to data flagged by The Kobeissi Letter, revealing that nearly $920 million of crude oil shorts were placed roughly 70 minutes before Axios reported the U.S. and Iran were nearing a deal to end the two-month war.
$900M in oil shorts right before the Axios article.
— Adam Cochran (adamscochran.eth) (@adamscochran) May 6, 2026
I’ve found at least another $100M in the same kind of trades onchain.
Meaning multiple insiders knew about the article forthcoming and traded on it. https://t.co/iAs0NrS8bR
The price of Brent oil fell by as much as 11.9 per cent after the report was published, resulting in a gain of $125 million for whoever placed these bets. The price then rallied by eight per cent after Iran established the Persian Gulf Strait Authority— a new body to regulate the passage of vessels in the Strait of Hormuz. Former JPMorgan quant head Marko Kolanovic cited the volatility as evidence of "blatantly manipulated markets."
In the days before the U.S. bombed Iran, some traders placed perfectly-timed bets on the outcome—some accounts won millions.
— Elizabeth Warren (@ewarren) May 6, 2026
Was that just luck? Looks like insider trading to me.https://t.co/Mtrz2PGXZf
The announcement came in the wake of President Trump's halting of 'Project Freedom', a day after Defense Secretary Pete Hegseth announced it. The operation was intended to circumvent Iran's blockade and provide safe passage to shipping vessels in the Hormuz Strait.
Insider trading? Has the Trump Administration been making money off American’s pain? https://t.co/ZOhPNRQSiG
— Governor Newsom Press Office (@GovPressOffice) May 6, 2026
Iran had initiated a closure after a joint US-Israeli military operation began on February 28, with Iranian forces targeting several ships, placing sea mines across the strait to prevent merchant ships from passing, and charging a toll for safe transit through the 30-mile channel.
The most corrupt war in US history. Maybe in world history. https://t.co/y66RYnSYLO
— Phillips P. OBrien (@PhillipsPOBrien) May 6, 2026
Trump said that he decided to halt the operation for a short period of time to see if an agreement could be finalized with Iran. He maintained that the U.S. naval blockade of Iran will remain in force. There is no clarity on whether an agreement has been signed yet, but Trump has already threatened Tehran with a "much higher level of bombing" if they do not agree to a deal.
This is not the first time that well-timed oil bets worth millions of dollars have been placed before a crucial development in the Iran war. Several instances of a dubious trade have come to light since March this year. Traders bet nearly $550 million on a drop in the oil price before Trump delayed the plan to attack Iranian power infrastructure. Moreover, bets worth $950 million were made hours before Trump declared a two-week ceasefire in April. Another instance in the same month saw $430 million in bets moments before a ceasefire extension with Iran. An investigation by the Commodity Futures Trading Commission is currently underway.
